Business Requirements
This article outlines the requirements that must be met to successfully onboard a business EPC to the BVNK platform.
To onboard a business Enterprise Payment Customer onto our platform, we must collect and verify essential information regarding the business and its ownership. This is a regulatory requirement and a critical component of our risk management process.
The onboarding process typically involves a collaborative review by our Compliance and Onboarding teams to ensure full adherence to Know Your Business (KYB) standards.
The documentation and data we collect are categorized as follows:
- Baseline requirements.
These apply to all business customers, regardless of their industry or vertical. - Vertical-specific requirements.
Additional documentation or information may be required based on the customer’s specific industry or risk profile.
Baseline Requirements
All documents must be provided via the POST customers/{customerReference}/documents endpoint or via the Portal (if applicable).
The following requirements apply to all Business customers:
Company Data
- Legal Entity name
- Legal Entity Registration Number
- Legal Entity Type
- Legal Entity Country of Incorporation
- Legal Entity Registration number (EIN/TIN for US)
- Legal Entity Industry
- Legal Entity Registered address
- Legal Entity Operating address (if applicable)
Company Associated parties (associates)
At least one Representative, UBO, and Director must be specified. The same person can share multiple roles.
- Title (REPRESENTATIVE / UBO / DIRECTOR)
- First name (include middle Name(s) as well)
- Last name
- Date of birth
- Nationality
- Address details
- Email contact
- SSN / ITIN (U.S. only)
- ID Document (Non-U.S.)
- Document Type
- Unique Number
- Expiration Date
- Issuing Country
Supported document types and subtypes
The following TypeandSubType fields are supported for Business verification:
| Type | SubType | Description |
|---|---|---|
COMPANY_DOC | DIRECTORS_REGISTRY | Directors registry. |
COMPANY_DOC | INCORPORATION_ARTICLES | Memorandum/articles of incorporation/association/registration. |
COMPANY_DOC | INCORPORATION_CERT | Certificate of incorporation/registration. |
POWER_OF_ATTORNEY | POWER_OF_ATTORNEY | Power of attorney. |
COMPANY_DOC | PROOF_OF_ADDRESS | Proof of address (e.g., utility bill, rent contract). |
COMPANY_DOC | SHAREHOLDER_REGISTRY | Shareholder registry. |
TRANSPARENCY_REGISTRY_EXTRACT | STATE_REGISTRY | Recent excerpt from a state company registry. |
COMPANY_DOC | OTHER | Document subtype for cases not listed above. |
Vertical-specific requirements
Vertical or Industry-specific requirements include the following:
| Type | SubType | Description |
|---|---|---|
COMPANY_DOC | OTHER | Document type and subtype for all the cases listed below. |
- AML Policy
- FCA registration evidence (if UK-based)
- Sample customer transaction monitoring logs
Enhanced Due Diligence (EDD)
The following Enhanced Due Diligence (EDD) checks are triggered for high-risk jurisdictions, industries, or adverse media hits:
- Independent audit letter
- Legal opinion on structure (if complex)
- Ongoing monitoring procedures
Updated 10 days ago